Forex
Australia's unemployment rises to 4.6%, employment misses forecast
The unemployment rate rose to 4.6% versus the forecast of 4.5%, though employment gained 39.5 thousand people.
Full-time employment fell by 6.3 thousand versus a prior gain of 6.3 thousand, while part-time work rose 45.8 thousand. The participation rate rose to 67.1% versus the forecast of 66.9%, indicating an influx of workers entering the labor market.
For beginners When unemployment rises despite employment gains, it usually means more people are entering the labor market than jobs are being created. For investors, this can signal easing labor market tightness and lower odds of central bank rate hikes.